MoFo Tech

July 23, 2019 - Tech Talks, European Union, Financings, Fintech
Financial Services Technology Outsourcing: The UK Regulators Flex Their Muscles
By: Alistair Maughan and Sana Ashcroft
It’s all very well to issue regulatory guidance – but it’s what you do to enforce it that really counts. The UK financial services regulatory agencies have imposed fines exceeding $2 million on a UK bank that did not implement enough oversight on an
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July 15, 2019 - Regulatory, Blockchain, Fintech
First Token Offering Qualified by the SEC Under Regulation A
By: John T. Owen and Alfredo B. D. Silva
On July 10, 2019, Blockstack Token LLC (“Blockstack”), a wholly-owned subsidiary of Blockstack PBC, a Delaware public benefit corporation, became the first company to have an offering of digital assets qualified by the U.S. Securities and Exchange Commission (“SEC”) under Regulation A. Blockstack is
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July 02, 2019 - Artificial Intelligence, Financings, Fintech
Policy Makers Examine the Disparate Impact Risk of Artificial Intelligence and Underwriting
By: Rick Fischer
Recent Congressional activity reflects increasing concern in the fair lending implications of artificial intelligence (AI) in credit underwriting. Congress and regulatory agencies are likely to press financial services providers to better understand the AI they use and to ensure that its use does not result
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June 04, 2019 - Blockchain, Financings, Fintech
Nevada Resident Sentenced for Fraud and Unlicensed Money Transmission in Case Involving Bitcoin
By: Marc-Alain Galeazzi
A Nevada resident, Morgan Rockcoons, was sentenced in the U.S. District Court for the Southern District of California to 21 months in prison for wire fraud and unlicensed money transmission. In connection with the sentencing, Rockcoons will also be required to forfeit $80,600 in illicit proceeds.
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May 21, 2019 - Asia, Financings, Fintech
Where Disruption Meets Regulation
By: Gordon A. Milner
A wide range of businesses in Southeast Asia from traditional retailers and financial institutions to start-ups are harnessing new technologies and entering into new commercial partnerships to offer financial products and services regionally. MoFo’s Jake Robson, Gordon Milner and Nicholas Davies discuss how companies
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May 16, 2019 - Blockchain, Fintech
Understanding Blockchain - What is the Difference Between Public, Permissioned and Private Blockchains?
In this episode of “Understanding Blockchain,” Morrison & Foerster’s Susan Gault-Brown and Dario de Martino discuss the differences between each blockchain structure. Susan and Dario cover public, private, and permissioned blockchains and how the objectives of a given project might determine which structure is
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May 08, 2019 - Financings, Fintech
Could Strong Consumer Authentication Weaken Consumer Demand?
By: Trevor R. Salter
From 14 September 2019, certain electronic and remote payments must be subjected to two-factor, or “strong customer authentication”, under regulatory standards covering the European Economic Area relating to the second EU Payment Services Directive, which took effect in January 2018. Retailers are uncertain whether
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May 07, 2019 - Blockchain, Fintech
Understanding Blockchain - What is Blockchain?
In the first episode of “Understanding Blockchain,” Morrison & Foerster’s Susan Gault-Brown and Dario de Martino define blockchain for those without a technical background. They break down how it works, what it’s used for, and technologies under the blockchain umbrella, such as cryptography, distributed
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April 26, 2019 - Financings, Fintech
In a First, FinCEN Assesses Civil Money Penalty Against Peer-to-Peer Virtual Currency Exchanger
By: Marc-Alain Galeazzi
The Financial Crimes Enforcement Network (“FinCEN”) issued a press release announcing a civil money penalty for violations of the Bank Secrecy Act against Eric Powers, an individual who acted as a peer-to-peer virtual currency exchanger. The enforcement action is the first-ever penalty assessed by FinCEN
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April 12, 2019 - Blockchain, Financings, Fintech
SEC Issues Historic No-Action Letter and Releases Framework for “Investment Contract” Analysis of Digital Assets
By: Alfredo B. D. Silva
On April 3, 2019, the Strategic Hub for Innovation and Financial Technology of the U.S. Securities and Exchange Commission (“SEC”) published two pieces of guidance on when a blockchain-enabled digital asset will, or will not, be considered a security. The first piece of guidance
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Topic Archives: Fintech

Financial Services Technology Outsourcing: The UK Regulators Flex Their Muscles

By: Alistair Maughan and Sana Ashcroft

First Token Offering Qualified by the SEC Under Regulation A

By: John T. Owen and Alfredo B. D. Silva

Policy Makers Examine the Disparate Impact Risk of Artificial Intelligence and Underwriting

By: Rick Fischer

Nevada Resident Sentenced for Fraud and Unlicensed Money Transmission in Case Involving Bitcoin

By: Marc-Alain Galeazzi

Where Disruption Meets Regulation

By: Gordon A. Milner

Understanding Blockchain - What is the Difference Between Public, Permissioned and Private Blockchains?

Could Strong Consumer Authentication Weaken Consumer Demand?

By: Trevor R. Salter

Understanding Blockchain - What is Blockchain?

In a First, FinCEN Assesses Civil Money Penalty Against Peer-to-Peer Virtual Currency Exchanger

By: Marc-Alain Galeazzi

SEC Issues Historic No-Action Letter and Releases Framework for “Investment Contract” Analysis of Digital Assets

By: Alfredo B. D. Silva